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TMK Announces Board of Directors Decision on Share Capital Increase

TMK's Board of Directors at the meeting on June 27 made a decision to approve a share capital increase by the issuance of additional shares in the amount of 56,000,000 shares under open subscription. The offering price will be determined by the Board of Directors and announced not later than the beginning of the shares placement.

The proceeds from the follow-on offering will be used to finance earlier announced investment projects and other current needs as well as to optimize TMK’s capital structure.

Follow-on Offering Conference Call:

TMK’s management will hold a conference call to discuss the secondary shares issuance today, June 27, 2014, at 09:30 New York / 14:30 London / 17:30 Moscow.

To join the conference call please dial:

UK Local:                              +44 20 7190 1595

UK Toll Free:                                   0800 358 5258

Russia:                                  +7 495 662 57 93

Conference ID:                    4689640

(We recommend that participants to start dialing in 5-10 minutes prior to ensure a timely start to the conference call)

The conference call replay will be available through June 30, 2014:

UK Local:                              +44 207 154 2833

UK Toll Free:                                    0800 358 3474

US Local:                              +1 303 590 3030

US Toll Free:                                   1 800 406 7325

Replay Access Code:         4689640#

TMK Announces Board of Directors Decision on Share Capital Increase (246.77 KB,pdf)